eductioncess

imposition of the Education cess @ 2% on all major Central Taxes through the Finance (No. 2) Act, 2004, with effect from 14.11.2005

Vide Budget, 2007, the Finance Minister has proposed to levy a new cess called Secondary and Higher Education Cess  @ 1%  This new cess is in addition to the existing education cess of 2% imposed vide Finance Act, 2004.

The new levy has come into force with immediate effect i.e. from 1.3.2007 by virtue of the declaration under the Provisional Collection of Taxes Act, 1931 (Clause 126 read with Clause 128 of the Finance Bill, 2007 refers)